5 August 2013 - The Philippine Consulate General in New York reported that back-to-back business seminars were held at the Philippine Center on June 20 and 21, encouraging overseas Filipinos to invest in franchising and inviting US companies to take advantage of the investment opportunities in the country’s special economic zones.
The first seminar, held on 20 June, was “Be Your Own Boss! A Seminar on Investing in a Franchise Business in the Philippines” and featured Mr. Samie Lim and Ms. Elizabeth Pardo-Orbeta of the Philippine Franchise Association (PFA) as guest speakers. Mr. Lim is PFA’s Founder and Chairman Emeritus and was also former Chairman of the World Franchise Council and former Undersecretary of the Department of Trade and Industry (DTI). Ms. Pardo-Orbeta is the current PFA President and Chairman of Wendy’s Philippines Corporation. They took a break from their participation at the International Franchising Expo held in New York to conduct the seminar for the overseas Filipinos.
The two PFA officials discussed the basics of franchising and the overview of the Philippine franchising sector with the 85 guests who attended the seminar. “The economic growth in the Philippines has opened up many investment opportunities for overseas Filipinos. They can look at investing their savings in various food, retail and service franchises in the Philippines,” Mr. Lim said. According to the PFA, the Philippines currently has 1,300 franchise systems and 125,000 franchise outlets that generated $12 billion in revenues in 2012. PFA gave the audience the list of local and foreign companies in the Philippines that are available for franchising.
The second event, “The Philippines: Your Preferred Host (A Seminar on Doing Business in Philippine Economic Zones),” was held on June 21 and attended by about 70 corporate executives. Philippine Economic Zone Authority (PEZA) Director General and DTI Undersecretary Lilia De Lima gave presentation on the advantages and benefits of locating in the 286 PEZA special economic zones across the Philippines, including the mix of fiscal and non-fiscal incentives that PEZA could give to eligible US companies.
“PEZA has not only become a “one-stop” shop but also a “non-stop” shop in delivering services for PEZA locator companies. We assist in processing permits, licenses, visas and registration forms and in addressing the concerns of our clients on a 24/7 basis. Further, US investors can be assured that that PEZA zones are free of red tapes, graft and corruption,“ Ms. De Lima told the audience during the seminar.
Ms. De Lima also extolled the English speaking, hardworking, skilled and friendly Filipino workers as the country’s competitive edge.
Mr. Amit Shashank, Executive Vice President and General Counsel of EXL Service, a business process solutions company headquartered in New York with operations in the Philippines, gave testimonials on his company’s positive experience in locating in a PEZA zone.
Consul General Mario De Leon said, “This is an exciting time in the Philippines. Our economy has been experiencing sustained growth since 1999 and our people’s purchasing power is increasing. We have become an attractive investment destination. So I encourage overseas Filipinos and US companies looking for growth to invest in our country.”
The two seminars were made possible through the collaboration of the Philippine Consulate General, Philippine Trade and Investment Center, PFA, PEZA, Philippine American Chamber of Commerce and Junior Chamber International (JCI) Philippine-New York (Jaycees). END.